Hantz Financial Services Inc. Reduces Stock Position in Palo Alto Networks, Inc. $PANW

Hantz Financial Services Inc. cut its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,251 shares of the network technology company’s stock after selling 2,489 shares during the period. Hantz Financial Services Inc.’s holdings in Palo Alto Networks were worth $7,967,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Westfield Capital Management Co. LP bought a new stake in Palo Alto Networks during the 3rd quarter valued at $75,412,000. American Century Companies Inc. raised its position in Palo Alto Networks by 134.1% during the 3rd quarter. American Century Companies Inc. now owns 672,129 shares of the network technology company’s stock valued at $136,859,000 after purchasing an additional 384,985 shares in the last quarter. US Bancorp DE raised its position in Palo Alto Networks by 0.6% during the 3rd quarter. US Bancorp DE now owns 1,364,442 shares of the network technology company’s stock valued at $277,828,000 after purchasing an additional 8,344 shares in the last quarter. Generali Investments Management Co LLC raised its position in Palo Alto Networks by 38.4% during the 3rd quarter. Generali Investments Management Co LLC now owns 54,401 shares of the network technology company’s stock valued at $11,077,000 after purchasing an additional 15,091 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in Palo Alto Networks during the 4th quarter valued at $1,554,000. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $260.58 on Tuesday. The business’s 50-day moving average is $185.14 and its 200 day moving average is $182.38. Palo Alto Networks, Inc. has a 1 year low of $139.57 and a 1 year high of $261.41. The firm has a market capitalization of $212.63 billion, a P/E ratio of 143.97, a P/E/G ratio of 9.39 and a beta of 0.77.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Argus raised Palo Alto Networks to a “strong-buy” rating in a research report on Friday, February 20th. Jefferies Financial Group reissued a “buy” rating and issued a $265.00 price target on shares of Palo Alto Networks in a research report on Thursday, May 14th. Mizuho boosted their price target on Palo Alto Networks from $200.00 to $265.00 and gave the stock an “outperform” rating in a research report on Monday, May 18th. JPMorgan Chase & Co. reduced their price target on Palo Alto Networks from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, Loop Capital reduced their price target on Palo Alto Networks from $190.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $226.33.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora bought 68,085 shares of Palo Alto Networks stock in a transaction that occurred on Friday, March 27th. The shares were bought at an average cost of $146.87 per share, with a total value of $9,999,643.95. Following the transaction, the chief executive officer directly owned 343,394 shares of the company’s stock, valued at approximately $50,434,276.78. This represents a 24.73% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $160.42, for a total value of $802,100.00. Following the transaction, the executive vice president directly owned 150,250 shares in the company, valued at $24,103,105. This represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,756 shares of company stock worth $5,076,355 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.